Business Daily from THE HINDU group of publications
Thursday, Dec 04, 2008
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Thursday, Dec 04, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Industry & Economy
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Foreign Direct Investment ‘Australia too has cumbersome investment norms’ 
Ms Anita Nayar Our Bureau Chennai, Dec. 3 “Investment in Australia is not easy,” says Ms Anita Nayar, Consul General of India in Melbourne. According to her, while Australia’s cumbersome procedures are partly to blame, the impression that Indians lack professionalism in business is more the reason for this. Ms Nayar was speaking on “India and Victoria: Growing Relations and Business Opportunities” organised here today by the Indo-Australian Chamber of Commerce. “Honestly speaking, Australians have the impression that Indians lack professionalism in business and this idea is basically because Australians lack information about Indians,” she said, citing as example the research project that Satyam Computer Services has set up in Australia took three years to fructify. Presence in IndiaShe said that Australians also felt the same that it was not easy to make investments in India due to clearances and procedure delays. However, top Australian companies have a presence in India and there other mid-sized companies which can also view India as good potential only if it promotes itself better, she added. Ms Nayar said that Melbourne has a vibrant automotive industry which accounts almost for 60 per cent of Australia’s exports. Other strengths of the region would include food processing industry and expertise in agri-biotechnology — increasing yields of wheat and higher resistance to pests. More Stories on : Foreign Direct Investment
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